MEMPHIS, TENN. — Monogram Foods, a manufacturer and marketer of beef jerky, corn dogs, pre-cooked bacon and other value-added meat products, has won the bid to acquire Golden County Foods, a Plover, Wis.-based frozen appetizer business with approximately $100 million in annual sales. Monogram confirmed its winning bid was $37.2 million for Golden County, which filed for Chapter 11 bankruptcy protection on May 15, 2015. Monogram made its initial bid on May 26 and the transaction is expected to close in mid-July.
With the addition of Golden County Foods’ two production facilities, Memphis-based Monogram Foods now owns manufacturing plants in six states, all of which were acquired over the past nine years. Monogram has grown from 15 employees to more than 2,300 with the addition of Golden County Foods, while increasing revenues from $8 million in 2004 to more than $500 million in 2015 with this latest transaction.
Golden County Foods is the world’s largest supplier of frozen filled potato skins and a leading supplier of handheld and bite-size breakfast products. As a contract manufacturer, the company has developed products for major national brands and has replicated private label portfolio items for retail and food service. Products include Snapps frozen cheese sticks and loaded potato sticks and IHOP at Home frozen breakfast sandwiches. Golden County Foods employs approximately 550 workers.
|Schledwitz, chairman and c.e.o. of Monogram Foods.|
“This acquisition helps to strengthen our position and commitment to the frozen foods category,” said Karl Schledwitz, chairman and chief executive officer of Monogram Foods. “The acceptance of our bid marks another important milestone in the growth of Monogram Foods and our commitment to not only save but also to create jobs in the markets in which we operate.”